Unbanked Profile

Miami, FL

A bank or credit union account can be the first step in saving, planning for the future, building credit and climbing the economic ladder, but more than nine million American households don't have one. Click through the tabs below to learn about the unbanked and underbanked population in your community.

Unbanked and underbanked data for smaller metropolitan and micropolitan statistical areas, counties, cities and census tracts are CFED estimates derived from a model based on the 2009 FDIC Survey and 2005-2009 American Community Survey (ACS) Public Use Microdata Sample and aggregate data available through American FactFinder. While these estimates are CFED’s best efforts to measure the unbanked and underbanked at the local level, the model is based on a national survey of approximately 47,000 households, and caution should be used when interpreting data at a local level. For more information on the estimation technique, read About the data.

Nationally, the rate of being unbanked and underbanked varies by factors like household income, race and ethnicity, educational attainment, age and citizenship. Groups that have a higher than average rate of being unbanked or underbanked nationally are at risk of being financially underserved in your community. Below is information on who lives in your community and which groups are at risk of being unbanked or underbanked.

1 "At Risk" indicates that nationally the population has a rate of being unbanked or underbanked higher than the national average per the 2009 FDIC National Survey of Unbanked and Underbanked Households. For more information, visit www.economicinclusion.gov.

2 Data on citizenship and nativity refer to individuals and not households.

Download a customized unbanked profile of the financially underserved in your community. The profile provides the number of unbanked and underbanked in your community and surrounding geographies, along with information on why accounts matter and what can be done. Select the additional features you would like to include from the menu below, including the data on at-risk populations in your community and the Bank On logo.

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Include at-risk populations page

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To print a map of the concentration of unbanked or underbanked households in your community, go to the Interactive map tab, make sure that the map is centered on the location you are interested in printing, and click the Print button at the bottom of the map.

CFED, under the U.S. Treasury Department’s Bank on USA initiative and in partnership with Haveman Economic Consulting (HEC), has developed an estimation technique based on the FDIC’s 2009 National Survey of Unbanked and Underbanked Households that estimates the number of unbanked and underbanked households for each city, county, metropolitan area, and census tract in the United States with 250 or more households.

In the 2009 National Survey of Unbanked and Underbanked Households, the FDIC released data on the percentage of households that are unbanked and underbanked for the nation, each of the 50 U.S. states and the District of Columbia, and the 69 largest metropolitan regions (MSAs) at www.economicinclusion.gov. This is now widely accepted as the most representative and reliable data source for banking status at these geographies, and this data tool uses the FDIC data for all geographies where it is available. Because it was not designed to provide data for smaller geographies like cities, towns and counties, CFED developed this estimation technique.

While these estimates are CFED’s best efforts to measure the unbanked and underbanked at the local level, the model is based on a national survey of approximately 47,000 households, and caution should be used when interpreting data at a local level. For more information on the estimation methodology, please read the technical documentation.

CFED and HEC gratefully acknowledge the expert guidance of Carolina Reid (formerly of the Federal Reserve Bank of San Francisco), Caroline Ratcliffe (Urban Institute), Jodie Harris (CDFI Fund) and Louisa Quittman (U.S. Treasury Department) throughout the development of this methodology.